ECON FUNG RED ALERT: DOW AND NAS PLUNGE - Friday 2/28 - DOW Hits -1,000 In Early Morning Trading

S

shane

Has No Life - Lives on TB
I like my life the way it is, prepping is insurance to better assure my current lifestyle might somewhat
have a shot to stay that way, if bad things happen.

But, like medical insurance, while very glad I got it, I'd be even more thrilled if I never need or use it.

When younger I might have been tempted to have the re-set button hit sooner rather than later, but
since I've had kids, and especially now grandkids, I'd hate ever seeing anything bad get unleashed.

Make sense?

Panic Early, Beat the Rush!
- Shane
 
D

Dozdoats

On TB every waking moment
Because if you don't, you'll be the last person in line at the bank, and there won't be any money left for you.

Cary,

Do you have a Monopoly game? If so, the "money" there is every bit as good as the currency from the bank, for all practical purposes. Because the FRN$ in the bank are not money - they are CURRENCY. They have no intrinsic value except the confidence people place in them. And confidence is a fragile thing, if/when it evaporates, all of the above will be abundantly clear.
 
Scotto

Scotto

Set Apart
Dennis Olson said:
I beg to differ. It offers them a chance to “hunker in the bunker” while the ravening hordes fulfill their desire to see TEOTWAWKI. Don’t even try to deny it. It’s a chance to use all those preps and guns. Lots of folks secretly want the “great reset” even if they don’t admit it openly.

You know I’m right.
Click to expand...

You're absolutely right.

Some of these nutcases with their "bring it on" mentality just want it all to go to hell so they can say "I told you so."

They think they would be fine living in a world of shit just to be "right." Idiots.
 
CaryC

CaryC

Has No Life - Lives on TB
Dozdoats said:
Because if you don't, you'll be the last person in line at the bank, and there won't be any money left for you.

Cary,

Do you have a Monopoly game? If so, the "money" there is every bit as good as the currency from the bank, for all practical purposes. Because the FRN$ in the bank are not money - they are CURRENCY. They have no intrinsic value except the confidence people place in them. And confidence is a fragile thing, if/when it evaporates, all of the above will be abundantly clear.
Click to expand...

You can talk/take that line all you want, and that's fine. Just don't make it a rule. Because you won't know the dollar won't be accepted, until it's not.

Taking the stand it won't be any good means you won't be standing in line, when it will be accepted everywhere, and you don't have any.

I suspect that when/if the stock market crashes, and banks close, the only confidence people will have at stores, is the currency you don't think will survive.

Even in a hyperinflation situation as in Germany, etc. Currency is still good, you just need a lot of it. Even if you use it to start fires. But if you don't any.........
 
CaryC

CaryC

Has No Life - Lives on TB
Just a note Rhondaben over in the CorVin19 thread reported that the stock market has rolled over from session highs to lows.

Running in the -280 range and steady going down.

Just as another note to Dozdoats:

Even during and after the '29 crash when a deep depression gripped the country, currency was still accepted, it was just there wasn't any to go around.

The Fed was created in 1913 after the panic and crash in 1907. There is all kinds of …..stories around that crash. It made JP Morgan even richer that he was. Got to buy a lot of railroads in the South at depressed prices. And he bought them with cash.
 
N

night driver

ESFP adrift in INTJ sea
There are a WHOLE LOTTA FOLKS who are going to find out in the fairly near term (I suspect) that their School of Econ was uttered BS. AND a whole lotta folks who will find that THEIR school of Econ was RIGHT.

If anyone feels the need to crow "I WUZ RIGHT!!!" please stop and think a second, 'cuz pellet guns deal with crows.

And ANY gun can deal with crowing.
 
doctor_fungcool

doctor_fungcool

TB Fanatic
The Snack Artist said:
I was in the options/futures business for 30+ years. You don't quadruple off the lows (08) without a pullback. This mkt is driven by paper mache garbage. The fact companies have been borrowing money for share buybacks just makes these moves all the more violent. The algo driven computers shut off in these conditions and therefore limit liquidity (think bids and offers). I saw it in the flash crash. That was something. Was there in 87 too. The boards were 1 1/2 hours late. The NYSE did 630 million shares that day. Child's play compared to now.
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Total financial losses for yesterday's sell off estimated to be 1.7 trillion...
 
Momof5

Momof5

Senior Member
Supposed to get my tax return Thursday. I think I'm going to take the cash and hide it for a while
 
West

West

Senior
Of note, regarding cash being king during and after the 30s depression, back then cash was still silver and gold.

Today our cash is only backed by faith.

Just needs to be rationalized.
 
N

NCGirl

Veteran Member
I don't bother telling anyone anything anymore anyway.

so no I wuz right here

I just want to get back to normal. I prefer my doom 6 months away thank you very much.




Knight_Loring said:
Stock massacre beginning again now at 10:30..... The Fed is not propping it up yet.
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night driver said:
There are a WHOLE LOTTA FOLKS who are going to find out in the fairly near term (I suspect) that their School of Econ was uttered BS. AND a whole lotta folks who will find that THEIR school of Econ was RIGHT.

If anyone feels the need to crow "I WUZ RIGHT!!!" please stop and think a second, 'cuz pellet guns deal with crows.

And ANY gun can deal with crowing.
Click to expand...
 
Dennis Olson

Dennis Olson

Chief Curmudgeon
_______________
West said:
Of note, regarding cash being king during and after the 30s depression, back then cash was still silver and gold.
Click to expand...
Silver yes, gold no. Private ownership of gold was outlawed on April 5th, 1933. At that point, gold coins would no longer be acceptable as money.
 
Dennis Olson

Dennis Olson

Chief Curmudgeon
_______________
Look, it’s one thing to prep, but quite another to converse in hushed, excited tones about the coming meltdown. The former is to be applauded, but the latter is, as I said, HOPING it actually comes to pass. For “excitement” if nothing else. I abhor that kind of thing.
 
West

West

Senior
Dennis Olson said:
Silver yes, gold no. Private ownership of gold was outlawed on April 5th, 1933. At that point, gold coins would no longer be acceptable as money.
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Thinking not vary many peoples said no to gold when they privately exchanged stuff, back then.
 
CaryC

CaryC

Has No Life - Lives on TB
West said:
Of note, regarding cash being king during and after the 30s depression, back then cash was still silver and gold.

Today our cash is only backed by faith.

Just needs to be rationalized.
Click to expand...

Not sure what you are saying there. However, it should be noted that the local person dealt in currency, as cash. However the notes they carried were still backed by the federal government with gold and silver.



Old20


National Bank note issued in 1929 by the Atlanta and Lowry National Bank. The red seal reads, “Redeemable in lawful money of the United States at United States Treasury or at the bank of issue.” At the time, lawful money referred to gold coin, silver coin, gold or silver certificates, or U.S. notes.

Source: www.let.rug.nl
 
Knight_Loring

Knight_Loring

Veteran Member
Based on my technical analysis, I just did my calculations for the S&P. I am coming up with possible tradable bottoms of between 2960-3000. If S&P breaks below 2950 with conviction, I am looking for 2500.
Fear is a powerful emotion. Protect yourselves. The sidelines could be the best bet for next couple months.

Hope I am wrong and this will blow over.

Just My Humble Opinions.
 
Dennis Olson

Dennis Olson

Chief Curmudgeon
_______________
West said:
Thinking not vary many peoples said no to gold when they privately exchanged stuff, back then.
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I’m thinking otherwise. It was unusable as a form of “public tender.” If caught with it, a person would go to prison. Think what you wish; I tend to look at things through the prism of human nature.
 
West

West

Senior
CaryC said:
Not sure what you are saying there. However, it should be noted that the local person dealt in currency, as cash. However the notes they carried were still backed by the federal government with gold and silver.



Old20


National Bank note issued in 1929 by the Atlanta and Lowry National Bank. The red seal reads, “Redeemable in lawful money of the United States at United States Treasury or at the bank of issue.” At the time, lawful money referred to gold coin, silver coin, gold or silver certificates, or U.S. notes.

Source: www.let.rug.nl
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Exactly, one can't compare todays cash to the 30s cash. Today cash is 100% crap. Imho. It's just the majority have not realized it. Today our cash is backed by nothing but faith.

And our military strengths. Granted though this is different than a currency war.
 
20Gauge

20Gauge

TB Fanatic
Dennis Olson said:
Look, it’s one thing to prep, but quite another to converse in hushed, excited tones about the coming meltdown. The former is to be applauded, but the latter is, as I said, HOPING it actually comes to pass. For “excitement” if nothing else. I abhor that kind of thing.
Click to expand...
The latter is part of human nature..... we all look for the excitement. But I do agree, I am prepping for it, but don't want it to happen. Though I believe it will come to pass at some point and I would rather it happen when I have the ability to fight back.
 
20Gauge

20Gauge

TB Fanatic
CaryC said:
Not sure what you are saying there. However, it should be noted that the local person dealt in currency, as cash. However the notes they carried were still backed by the federal government with gold and silver.



Old20


National Bank note issued in 1929 by the Atlanta and Lowry National Bank. The red seal reads, “Redeemable in lawful money of the United States at United States Treasury or at the bank of issue.” At the time, lawful money referred to gold coin, silver coin, gold or silver certificates, or U.S. notes.

Source: www.let.rug.nl
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Yes, but that gold value was manipulated by FDR.... he confiscated it at a low price and then revalued it so the government gained substantially from outlawing gold...
 
20Gauge

20Gauge

TB Fanatic
West said:
Exactly, one can't compare todays cash to the 30s cash. Today cash is 100% crap. Imho. It's just the majority have not realized it. Today our cash is backed by nothing but faith.

And our military strengths. Granted though this is different than a currency war.
Click to expand...
I would argue "faith and the point of a gun". Much like the cartels "silver or lead" your choice. If we begin to refuse the government dollar, (which can happen in a heartbeat), then the government will force the issue. If they don't they will fall and that is the last thing they want.
 
20Gauge

20Gauge

TB Fanatic
doctor_fungcool said:
A market crash could propel Bernie Sanders into the White House....yes that would be a huge DISASTER.
Click to expand...
As much as we all realize Trump has done everything and then some to be one of the best Presidents ever, there are very strong forces leveled against him and taking down the world economy is not beyond them if they need to prevent Trump from being President once again.
 
Freeholder

Freeholder

This too shall pass.
doctor_fungcool said:
A market crash could propel Bernie Sanders into the White House....yes that would be a huge DISASTER.
Click to expand...

I doubt that many Trump supporters would switch to Sanders no matter what catastrophe happened. If anyone is to blame, it’s the globalists/deep state entities. Most of us know that, and wouldn’t blame Trump.

Kathleen
 
Sammy55

Sammy55

Veteran Member
20Gauge said:
As much as we all realize Trump has done everything and then some to be one of the best Presidents ever, there are very strong forces leveled against him and taking down the world economy is not beyond them if they need to prevent Trump from being President once again.
Click to expand...
This is what I'm afraid of, however I also think about two other points.

1) God is more powerful than "they" are, and God is who I believe is behind President Trump and his ability to roll through all the sh*t thrown at him.
2) If "they" try to take down the world economy, God can just as easily pull a miracle and their plans and works just might come back and bite them in the a**.
 
Knight_Loring

Knight_Loring

Veteran Member
Sammy55 said:
This is what I'm afraid of, however I also think about two other points.

1) God is more powerful than "they" are, and God is who I believe is behind President Trump and his ability to roll through all the sh*t thrown at him.
2) If "they" try to take down the world economy, God can just as easily pull a miracle and their plans and works just might come back and bite them in the a**.
Click to expand...

What if God is done with him?
What if world events are entering a time in the near future that has long been prophesied about?

We just don't know.
 
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